Handelsbanken Fonder AB Has $420,000 Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

Handelsbanken Fonder AB grew its holdings in Xerox Holdings Co. (NYSE:XRX) by 20.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,900 shares of the information technology services provider’s stock after purchasing an additional 3,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Xerox were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Xerox by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after purchasing an additional 1,464,851 shares during the period. American Century Companies Inc. raised its stake in Xerox by 520.9% during the 3rd quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock worth $5,933,000 after buying an additional 317,233 shares during the period. Public Sector Pension Investment Board acquired a new position in Xerox during the 3rd quarter worth approximately $2,194,000. Principal Financial Group Inc. raised its stake in Xerox by 43.6% during the 3rd quarter. Principal Financial Group Inc. now owns 659,221 shares of the information technology services provider’s stock worth $10,343,000 after buying an additional 200,124 shares during the period. Finally, Sound Income Strategies LLC raised its stake in Xerox by 60.8% during the 4th quarter. Sound Income Strategies LLC now owns 691,989 shares of the information technology services provider’s stock worth $12,684,000 after buying an additional 261,737 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price objective on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, April 24th.

Xerox Stock Performance

XRX stock opened at $13.06 on Thursday. The firm has a market cap of $1.62 billion, a PE ratio of -8.32 and a beta of 1.56. The company has a quick ratio of 1.07, a current ratio of 1.37 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average of $17.03 and a 200-day moving average of $16.29. Xerox Holdings Co. has a 12-month low of $12.06 and a 12-month high of $19.78.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The business’s revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts expect that Xerox Holdings Co. will post 2.16 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.66%. The ex-dividend date was Wednesday, March 27th. Xerox’s dividend payout ratio (DPR) is -63.69%.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.